Retail news
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Jane Norman faces administration
- Posted:
- 27 June 2011 09:56
The high street is braced for more upheaval amid uncertainty over the future of fashion chain Jane Norman. The business, which caters for 15- to 25-year-olds, is reported to be facing administration unless it can secure a buyer in the next few days.If it fails to pull through, the Independent ...read more
HMV sells Canadian stores
- Posted:
- 27 June 2011 09:55
Beleaguered retailer HMV took another step in its restructuring today by announcing a deal to sell its 121 stores in Canada.The sale of HMV Canada to retail restructuring firm Hilco for £2 million follows the group's recent agreement to offload Waterstone's to Russian billionaire Alexander Mamut for £53 million.The disposals, ...read more
Tesco Bank apologises for IT glitches
- Posted:
- 24 June 2011 10:50
The banking arm of the UK's biggest retailer has issued an apology after some of its customers remained locked out of their accounts for the fourth successive day. The problems at Tesco Bank have arisen following the transfer of 850,000 accounts to its own computer systems from those of its ...read more
Retail sales "reversal" predicted
- Posted:
- 16 June 2011 10:01
A sharp reversal in sales will be revealed today after retailers suffered a hangover from the royal wedding, Easter and a run of bank holidays.Sales volumes lifted by 1.1% in April but this better-than-expected performance is likely to have been offset during May as the sector resumes its recent downbeat ...read more
Shoppers cut back in May
- Posted:
- 07 June 2011 09:54
Shoppers shied away from clothing, footwear and big ticket items in May as the squeeze on consumer spending continued to hit UK retail sales.Retail sales values were 2.1% lower on a like-for-like basis in May, compared with a year ago, after two previous months distorted by the later Easter and ...read more
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